News

The RISE & SHINE Act shares some similarities to, and builds upon the Securing a Strong Retirement Act bill that passed the House in March.

Representative Byron Donalds (R-FL) and several Republican co-sponsors have introduced HR 7860, the Financial Freedom Act of 2022.

Senator Dan Sullivan, along with co-sponsors Pat Toomey, Mike Crapo and Chuck Grassley, have introduced S. 4241 the “Investor Democracy is Expected Act” or INDEX Act.

In the May 23, 2022, issue of Employee Plans News, the IRS explains the applicability of the Employee Plans Compliance Resolution System for pre-approved plans that are not restated by appropriate deadlines.

Senators Todd Young (R-IN), and Cory Booker (D-NJ) have introduced the Emergency Savings Act of 2022.

The SEC has issued a proposed rule that would add reporting requirements for registered investment advisors, registered investment companies, certain advisers that are exempt from registration, and business development companies.

The DOL’s EBSA, IRS, and the PBGC have released final forms revisions to the Form 5500 and Form 5500-SF.

Representative Mark DeSaulnier has introduced H.R. 7780, the “Mental Health Matters Act,” which strengthens behavioral health benefits in schools and also amends provisions of ERISA. 

The IRS has issued Notice 2022-25, which contains updated guidance on factors used in certain defined benefit (DB) pension plan minimum funding and present value calculations.

Representative Mark DeSaulnier (D-CA) has introduced HR 7740 – the Employee and Retiree Access to Justice Act.

The FuturePlan team is ready for the NAPA 401(k) Summit in Tampa Bay from April 3-5.

In 2019, Nyhart joined FuturePlan by Ascensus—an opportunity to merge the unique expertise of an actuarial powerhouse with the robust services FuturePlan already offers.

3(16) fiduciary services are one of the fastest growing sectors of the retirement plan industry today, but why do these plan administrators exist? We cover that in this post.

Dedicated DB is the leading national third-party administrator of Defined Benefit plans for 1-10 employee companies.

Intac’s company name will officially change to FuturePlan at the end of August. Read about how we’re creating that future together.

Financial advisors and plan sponsors routinely benchmark their 401(k) service providers, but rarely apply the same process to plan administration. This is an unfortunate missed opportunity, since the quality and expertise of your plan administration provider (typically a TPA firm) is critically important to the success of the plan. 

Almost three years ago, our RSI leadership team embarked on a new adventure: selling the firm we built from scratch. We wanted to ensure the future of our partnerships, clients, and talented associates was bright – filled with growth and opportunity.

Prevailing wage was established under federal law by the Davis-Bacon Act of 1931. The act mandates that contractors and subcontractors must pay their workers an hourly prevailing wage when working on any federally-funded construction project in excess of $2,000.

One of the most common plan failures we see is the use of the wrong definition of compensation for plan contributions. A failure like this can be expensive to fix, but also easy to avoid. This article will address options to fix the plan, as well as ways to avoid this issue.   

There are a lot of misunderstandings in the retirement industry regarding fiduciary services and 3(16) plan administrators. Why do they exist? What do they do? How do you find a good one? We’ll answer these questions and address some myths in this post.

In our previous post, Fiduciary Market Myths and Misconceptions we discussed a few misunderstandings in the market and shed light on them. The last misconception, "recordkeepers will check payroll data for accuracy" (they do not), is one that leaves the remaining question for plan sponsors: can they really ensure their payroll data is 100% error free?

Experienced Sales Leader Will Expand Institutional Product Pipeline and Industry Partnerships

Experienced Sales Leader Will Continue to Oversee Organization’s Northwest/Central Region

FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—announces that Aaron McIsaac will assume divisional vice president (DVP) responsibilities for the organization’s Southern California region as a result of DVP Greg Taylor’s planned retirement. The change is effective June 30, 2021.

Jay Hollis, John Krzeminski, and Lou DePonte Join Organization to Facilitate Continued Institutional Growth and Offer Enhanced Regional Support

FuturePlan by Ascensus is pleased to announce the appointment of Mark Wiggins as divisional vice president (DVP) for the Southeast and Southwest regions, which are key growth areas for the FuturePlan organization.

Ascensus is pleased to announce that Teresa Hassara will join the company as president of its FuturePlan by Ascensus line of business effective April 12, 2021. 

Some employees carefully watch their deferral contributions with each paycheck as they go into their 401(k) or 403(b) plan account. After all, it is their money – wages they’ve set aside to be paid later! But how quickly must the deposit be made? Employers often misunderstand the deposit timing rules for employee deferrals. In this article, we will explain the rules, exceptions, and consequences, along with the options available for fixing late deposits.

Contribution Deadline and Defined Benefit Funding Relief. Some contribution deadlines have been extended and certain defined benefit (DB) plans are eligible for funding relief.

On behalf of all of us at FuturePlan, we extend our wishes for a full recovery to those directly affected by COVID-19, and our deepest sympathies to those who have lost loved ones. Our heartfelt thanks go out to the medical professionals, first responders, and essential workers who are saving lives and sustaining our communities.

It’s safe to say that the environment in which we’re living and coping today is unlike any most of us have seen in our lifetimes. Worry for our own health and that of our loved ones, challenges to the operation of virtually every type of business, social distancing, travel restrictions, and startling global financial market volatility sometimes feel beyond our ability to process.

As a business division of Ascensus, FuturePlan has maintained a Pandemic Preparedness plan since day one. It is one component of our larger Business Continuity planning process.

Small businesses are the backbone of the American economy. With these businesses and their workers bearing the brunt of the hardship associated with the coronavirus (COVID-19) pandemic, it’s incumbent on the financial services industry to do whatever we can to support them. Many believe that this support will come mainly through federal relief, and that smart legislation—providing financial stimulus and other appropriate relief—will help right the ship.

At Ascensus, we consider the safety and wellbeing of our clients and associates to be paramount. Our service and leadership teams have been closely monitoring the global spread of COVID-19 and have been making proactive adjustments to our operations in order to ensure the continued service and expertise you count on.